ABSTRACT: N anocrystalline Co-Fe-P alloy coatings were prepared successfully on sheet substrate using electroless deposition method.The effects of the percentage of [ Fe2+] on the composition , structure and property were investigated using TEM and XRD etc.The results indicate that electroless deposition nanocrystalline Co-Fe-P alloys with shiny and compact surface and good combination with substrate can be obtained by adjusting the technical parameters cor rectly and the Co-Fe-P alloy has lower coercivity and higher rectangle ratio, which can be used for soft magnetic material.